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Healthscope acquisition one step closer after Federal Court approval

The Healthscope Limited (ASX: HSO) share price could see higher trading volume this morning after it announced it had received court approval to vote on its proposed takeover by Brookfield.

What did Healthscope announce yesterday?

Healthscope announced that the Federal Court has ordered a meeting of Healthscope shareholders to consider and vote on the previously announced scheme of arrangement regarding Brookfield’s acquisition of all Healthscope shares.

The Federal Court order follows Brookfield’s receipt of all regulatory approvals for the deal contemplated under the Implementation Deed.

If the scheme is approved by the required majority of Healthscope shareholders and all relevant conditions satisfied or waived, Healthscope shareholders will receive cash consideration of $2.465 per Healthscope share to be paid on the implementation date (currently slated for 6 June 2019).

The Healthscope Board continues to unanimously recommend that Healthscope shareholders:

  • Vote in favour of the scheme
  • Accept the takeover offer for all Healthscope shares owned, and
  • Vote in favour of the capital return

Which S&P/ASX200 shares would I be investing in?

Given Healthscope’s shares are currently trading at $2.46 per share, I wouldn’t expect the share price to move at all provided the Brookfield deal is approved.

Instead, I’d be checking out the likes of Appen Ltd (ASX: APX) or Afterpay Touch Group Ltd (ASX: ALU) which have been soaring higher so far in 2019.

Afterpay has continued to be one of the top performers in the S&P/ASX200 Index (ASX: XJO) in 2019 and its share price growth has been fuelled by favourable Senate inquiry findings and a successful international expansion.

While the company currently generates its revenue in the form of a fee or “spread” from its retail merchant partners, the real value in Afterpay remains its future potential as a data organisation.

With targeted information on each demographic and their spending habits, Afterpay represents an advertiser’s dream and the ability to monetise this significant dataset in an ethical and profitable manner is the key to the business’ future success.

For those who want to look for growth outside of the mining sector, this top-rated stock could boost portfolio gains as it continues to soar in a $22 billion industry.

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Motley Fool contributor Lachlan Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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